Johnson & Johnson Profits Edge Up
Third-quarter earnings for Johnson & Johnson (NYSE: JNJ – $90.10) edged up slightly as the healthcare products giant was again supported by new prescription drugs as it seeks to replace older blockbusters that have lost patent protection. Excluding charges related to last year’s acquisition of trauma-device maker Synthes, litigation-related impacts and other items, New Brunswick, N.J-based J&J reported adjusted earnings of $1.36, up from $1.25 a year ago. Revenue increased 3.1% to $17.6 billion. Analysts recently expected per-share earnings of $ 1.32 and revenue of $17.44 billion. For the full year, J&J raised its per-share earnings estimate to $5.44 to $5.49, from its previous estimate of $5.40 to $5.45. This top-quality blue chip is a good option for conservative income-oriented investors. The shares yield 2.9%, at current quotations.